Sec. 306. European and Eurasian energy independence
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The Administrator of the United States Agency for International Development should prioritize— loan, lease, and bond guarantees to appropriate financial institutions and other eligible borrowers through the Development Credit Authority to facilitate the involvement of such institutions and borrowers in financing efforts in Ukraine to help exploit existing natural gas reserves, to conduct additional exploration for oil and gas, to develop alternative sources of energy, including oil and gas, and to encourage energy efficiency, for Ukraine, Georgia, and Moldova, including the development of associated transportation, storage, and refinement facilities; and direct assistance to expand efforts in Ukraine, Georgia, and Moldova to help exploit existing natural gas reserves, to conduct additional exploration for oil and gas, and to develop alternative sources of energy, including oil and gas, and to encourage energy efficiency, for Ukraine, Georgia, and Moldova, including the development of associated transportation, storage, and refinement facilities.
The Director of the Trade and Development Agency should promote United States private sector efforts to help exploit existing natural gas reserves, to conduct additional exploration for oil and gas, and to develop alternative sources of energy, including oil and gas, for Ukraine, Georgia, and Moldova, including the development of associated transportation, storage, and refinement facilities, by conducting and funding project preparation activities for projects in Ukraine, Georgia, and Moldova, including feasibility studies, technical assistance, pilot projects, reverse trade missions, conferences, and workshops.
The Overseas Private Investment Corporation— should prioritize support for investments to help exploit existing natural gas reserves, to conduct additional exploration for oil and gas, to develop alternative sources of energy, including oil and gas, and to encourage energy efficiency, for Ukraine, Georgia, and Moldova, including the development of associated transportation, storage, and refinement facilities; and shall implement procedures for expedited review of and, where appropriate, approval of, applications by eligible investors (as defined in section 238 of the Foreign Assistance Act of 1961 ( 22 U.S.C. 2198 )) for loans, loan guarantees, and insurance for such investments.
The President shall direct the United States Executive Directors of the World Bank Group and the European Bank for Reconstruction and Development to use the voice, vote, and influence of the United States to encourage the World Bank Group and the European Bank for Reconstruction and Development to invest in, and increase their efforts to promote investment in, efforts to help exploit existing natural gas reserves, to conduct additional exploration for oil and gas, to develop alternative sources of energy, including oil and gas, and to encourage energy efficiency, for Ukraine, Georgia, and Moldova, including the development of associated transportation, storage, and refinement facilities, and to stimulate private investment in such projects.
In providing loan guarantees, assistance, and support as described in this section and in prioritizing the projects as described in this section, the President and the heads and other appropriate officials of the United States Agency for International Development, the Trade and Development Agency, and the Overseas Private Investment Corporation shall ensure that the effectiveness of such guarantees, assistance, support, and projects is measured through the use of clear, accountable, and metric-based targets aimed at achieving energy independence for Ukraine, Georgia, and Moldova.
Not later than 90 days after the date of the enactment of this Act, the Secretary of Energy shall submit to the appropriate congressional committees a report on the costs, benefits, and economic viability of a gas pipeline extending from the border of Turkey into Eastern Europe and interconnected to the proposed Trans-Anatolian pipeline. Not later than 180 days after the date of the enactment of this Act, the Secretary of Energy, in coordination with the Secretary of Commerce, shall submit to the appropriate congressional committees a report— identifying the nuclear fuel requirements of the power sector of Ukraine; and including a plan for— supporting commercial production capabilities to provide alternative nuclear fuel supplies for Ukraine; and providing such support as the Secretary of the Energy deems appropriate for Ukraine to maintain the safe, secure, and sustainable operation of nuclear reactors in Ukraine.
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- 22 USC 2198
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Sec. 306
European and Eurasian energy independence
Cite22 USC 2198
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